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AI Summary of Regulation 16 Bank to cooperate with competent authorities of other Member States in certain cases
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Regulation 16 Bank to cooperate with competent authorities of other Member States in certain cases
(1) In carrying out its assessment of a proposed acquisition, the Bank shall consult with the competent authorities of other relevant Member States if the proposed acquirer concerned is -
(a) a credit institution, insurance undertaking, reinsurance undertaking, investment firm, or a management company within the meaning of Article 2(1)(b) of Directive 2009/65/EC (in these Regulations referred to as a "UCITS management company") authorised in another Member State or in a sector other than that in which the acquisition is proposed,
(b) the parent undertaking of a credit institution, insurance undertaking, reinsurance undertaking, investment firm or UCITS management company authorised in another Member State or in a sector other than that in which the acquisition is proposed, or